Institutional Re-Improvement and Legislative Optimization of the Voluntary Greenhouse Gas Emission Reduction Transactions Mechanism

The legislative optimization of the voluntary greenhouse gas emission reduction transactions mechanism are both the result of the mechanism’s endogenous momentum and the call of the times. The general idea of optimizing the legislation for the voluntary emission reduction mechanism is to meet the requirements of the reform concerning “simplifying procedures, decentralizing powers, integrating deregulation with appropriate regulation, and optimizing services” in terms of management concepts, to adopt the form of departmental regulations in terms of legislative form, and not to set up administrative licensing in terms of management mode, but to adopt the administrative confirmation mode of “publicity+registration”. As the legislative outcome of the optimization of the voluntary emission reduction mechanism, the internal structure, management links and normative content presented in Measures for the Administration of Voluntary Greenhouse Gas Emission Reduction Trading (For Trial Implementation) (hereinafter referred to as “the Administrative Measures”) are better choices that have been made after considering multiple factors.The Administrative Measures are only departmental regulations which cannot carry too much content, and many rules and forward-looking systems need to be gradually improved.To ensure the smooth, orderly and healthy operation of the voluntary emission reduction mechanism, it is necessary to establish a sound normative system and legal protection system that is compatible with the Administrative Measures, and establish the status of the Administrative Measures in the legal regulatory system of the carbon trading market.